Exports up 12.4% to $28 bn; trade deficit at $11.23 bn in May

India's trade deficit jumped to USD 11.23 billion in May even though exports witnessed strongest growth in 6 months.
Trade deficit, the difference between earnings from exports and outflow on account of imports, rose to USD 11.23 billion in May, from USD 10.09 billion in the previous month. It was however lower than USD 19.37 billion in May 2013.
Exports grew by 12.4 per cent in May to USD 28 billion, whereas imports dipped by 11.4 per cent at USD 39.23 billion.
The export figures in May are "encouraging", Commerce Secretary Rajeev Kher told reporters here.
In April-May, first two months of the 2014-15 fiscal, exports grew by 8.87 per cent to USD 53.63 billion. Imports during the period dipped by 13.16 per cent to USD 74.95 billion.

Gold imports in May dipped by 72 per cent to USD 2.19 billion, as against USD 7.7 billion in May 2013.